Stop Cash Shrink

While cryptocurrencies like Bitcoin may seem like a logical solution for cannabis companies to get around the cash problem, it’s the opposite of what dispensaries need as the industry struggles for legitimacy under federal prohibition, according to cannabis CEOs.

Krista Whitley, the CEO of Altitude Products, a Nevada-based cannabis company, said while she’s “very enthusiastic” about cryptocurrency’s potential to solve problems in the cannabis industry, it can “draw unwanted attention,” on otherwise law-abiding dispensaries.

When she approached Nevada’s cannabis regulators about using cryptocurrency, they threw cold water on the plan. “It’s definitely on our radar for the first quarter of 2018,” Whitley said.